China’s domestic stainless steel prices rise, but export market flat

China’s domestic stainless steel prices continued to rise over the past week on low inventory levels and high production costs. Meanwhile, export prices were flat amid sparse trading.

A strong nickel market also supported stainless steel prices.
The three-month nickel contract on the London Metal Exchange ended Wednesday July 15’s official trading session at $13,555 per tonne, up by $90 per tonne from $12,465 per tonne on July 8.
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,400-14,000 yuan ($1,915-2,001) per tonne, up by 100 yuan per tonne from a week earlier.

Wuxi had 424,000 tonnes of stainless flat steel products on July 10, down by...


Jessica Zong

July 16, 2020

07:33 GMT